Mini Keg
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The SquareOne Mini Keg is a portable, square-shaped beverage container designed to store and dispense a variety of drinks, including craft beer, cocktails, wine, cold brew coffee, and kombucha. Its unique square design allows it to fit conveniently into standard refrigerators and coolers, making it ideal for both home use and on-the-go occasions. The keg utilizes CO₂ cartridges to maintain the freshness and carbonation of beverages over extended periods. Each SquareOne Mini Keg has a capacity of 128 ounces, equivalent to a twelve-pack of beer, and is constructed from stainless steel for durability.
For more information on the product, check out: Square Keg Shark Tank
During his Shark Tank pitch, Loucks sought an investment of $300,000 in exchange for 10% equity in SquareKeg, valuing the company at $3 million. He highlighted the product’s versatility and potential in the beverage market. Ultimately, Kevin O’Leary, intrigued by the concept, offered $300,000 for 20% equity, which Loucks accepted.
Entrepreneurs |
Tim Loucks |
Product |
Portable, stainless steel beverage container designed to hold up to 128 ounces (approximately 3.8 liters) of various drinks, including craft beer, cocktails, wine, cold brew coffee, and kombucha. Its unique square design allows it to fit conveniently into standard refrigerators and coolers, addressing the common issue of round kegs being bulky and space-inefficient. |
Investment Sought |
$300,000 |
Equity Offered |
10% |
Valuation |
$3 million |
Initial Sales |
Sold over 4 million unit with lifetime sales of $1.4 million. The company faced a loss of $250,000 in 2021, but on track to profit 15%. Each keg costs $130 to produce and retails for $259. |
Retail Plans |
Scale production, boost marketing, expand distribution, and ensure that his product is widely accepted. |
Mark Cuban |
No offer. |
Kevin O’Leary |
$300,000 for 20% equity. |
Peter Jones (Guest Shark) |
No offer. |
Lori Greiner |
No offer. |
Daymond John |
No offer. |
Kevin O’Leary offered $300,000 for 20% equity which was accepted.
Following the “Shark Tank” appearance, SquareKeg experienced significant growth:
Despite the initial success, SquareKeg faced challenges, including the premium pricing of their products, which may limit accessibility for some consumers. As of early 2024, the company’s net worth was estimated to be around $2 million.
Looking ahead, SquareKeg aims to continue innovating within the beverage industry. Plans include developing new products and exploring options tailored for wine storage, responding to market demand and feedback.
The journey of SquareKeg post-Shark Tank exemplifies the impact that strategic exposure and investment can have on a startup. With a focus on innovation and customer satisfaction, SquareKeg is poised to make a lasting impression in the beverage storage market.
The SquareOne Mini Keg is a compact, portable keg designed to hold and dispense various beverages, including craft beer, cocktails, wine, and cold brew. Its square shape maximizes storage space in refrigerators and coolers, making it ideal for home and on-the-go use.
The SquareOne Mini Keg is available in different editions, with prices ranging from $249 for the Mini to $399 for the Nitro version. Additional accessories, such as faucets and CO2 cartridges, are priced between $6.99 and $199.99.
Yes, during their appearance on Shark Tank, founder Tim Loucks secured a deal with Kevin O’Leary for a $300,000 investment in exchange for 20% equity in the company.
Since its Shark Tank appearance, SquareOne Mini Keg has experienced significant growth, reporting over $3.5 million in annual sales and a net worth of $2 million. The company has expanded its product line and ventured into new markets, including partnerships with breweries and wineries.
